RM120m sturgeon (fish) farm to be set up in Pahang

RM120m sturgeon (fish) farm to be set up in Pahang
Business & Markets 2013
Written by Madiha Fuad of theedgemalaysia.com
Tuesday, 16 July 2013 18:26

PUTRAJAYA (July 16): The East Coast Economic Region (ECER) will witness the development of a RM120 million sturgeon (large edible fish) farm in Pahang which is said to create economic impact for 1,300 FELDA settlers.

The project will be implemented under a joint venture between FELDA Investment Corporation (FIC) and MMC Hassed Co. Ltd. of South Korea, with an initial investment of RM120 million.

The East Coast Economic Region Development Council (ECERDC) and the Malaysian BioTECHNOLOGY [] Corporation (BiotechCorp) will act as FELDA’s strategic collaborative partners in this project.

“The sturgeon farm concept will also be expanded to the surrounding FELDA settlers to create a Regional Sturgeon Aquafarm,” said Prime Minister Datuk Seri Mohd Najib bin Tun Abdul Razak after witnessing the MOU exchange ceremony between FELDA and MMC Hassed at the Prime Minister's office today.

With a market price of between USD3,000 (about RM9,000) and USD5,000 (about RM15,000) per kilogramme for the fish, the project is expected to generate a monthly income of around RM10,000 for the participating FELDA settlers, with a payback period of seven years.

Jerantut and Jengka have been identified as among the potential locations for the sturgeon farming project.